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Market Basket Analysis module, part of our Retail Analytics Suite, analyzes large datasets of sales transactions and discovers probability of co-occurrence between different items and categories (i.e. how often X is purchased with Y).
Features of Market Basket Analysis:
- Advanced algorithms for detecting correlation between items and categories
- Fully customizable engine for limiting and controlling Market Basket Analysis results
- Advanced visualization components to simplify result interpretation
- Interaction with demand forecasting, promotion and market segmentation modeling modules
Benefits of Market Basket Analysis:
- High level of accuracy
- Optimized input for targeted promotions
- Identify and recommend cross merchandizing opportunities
- Customize marketing resources based on purchase history
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